Guests:
Welcome to Your Business Matters, a podcast of EXIM Bank Jamaica where we bring thought leaders together on thought-provoking ideas and methods to help grow your business.
Entrepreneurs enter into business partnerships for several reasons, some of which include combined skills and knowledge, increased resources, more business capital, and of course tax benefits. According to entrepreneur.com, 80% of business partnerships fail, so how do I ensure my business stays in the fortunate 20%? The same article stated that partners complement each other best when they each possess a skill that the other lacks but not much is said on how to handle business conflict when it arises. Business partners and shareholders alike must work toward the same business goals and agree on the strategies which will be used to achieve them.
Former CEO of Walt Disney stated, "It is rare to find a business partner who is self-less. If you are lucky, it happens once in a lifetime". Working with partners who provide more problems than solutions can be detrimental to business life not to mention annoying. When you are just starting in a business, it is easy to forge business relationships with just about anyone who will give you the time of day. Later, only to find that you are at the end of your rope with your current business partner or Board of Directors.. In today's episode of Your Business Matters, we explore the topic Collision of Values: Should I Stay For the Sake of the Business? What happens when business partners are not seeing eye to eye on a business deal or in general. When is enough really enough?
Some of what we discussed include:
We also touched base with a member of our audience Omar Ewen who posed this question to our guests “What characteristics do you look for in a business partner, in terms of authenticity especially when starting a business?”
Connect with our guests:
Connect with Brian Rolland on brianrolland.com and Monique Russell at clearcommunicationsolutions.com.
Thank you for joining us on Your Business Matters hosted by Heneka Watkis-Porter of the Entrepreneurial You podcast.
Remember to join us next week for another exciting episode with our thought-provoking leaders as they debate thought-provoking ideas and methods to help grow your business and move closer to your goals.
To stay in touch, you can connect with us on your favorite podcast platforms at ‘Your Business Matters’ where we bring the matters to the table or visit eximbankja.com for further information and business resources.
As you continue to mind your business, I leave with you this quote from Peter Drucker “ The most important thing in communication is hearing what isn’t said." Take care.